FMC (NYSE:FMC) Now Covered by Analysts at UBS Group

UBS Group initiated coverage on shares of FMC (NYSE:FMC) in a report published on Thursday, 24/7 WallStreet reports. The firm issued a buy rating and a $127.00 price objective on the basic materials company’s stock.

Several other analysts have also issued reports on FMC. Cleveland Research assumed coverage on shares of FMC in a research report on Tuesday, September 15th. They issued a neutral rating on the stock. Credit Suisse Group boosted their price target on shares of FMC from $127.00 to $128.00 and gave the company an outperform rating in a research report on Thursday, August 6th. Citigroup boosted their price target on shares of FMC from $119.00 to $125.00 and gave the company a buy rating in a research report on Thursday, August 6th. ValuEngine raised shares of FMC from a sell rating to a hold rating in a research report on Friday, August 7th. Finally, KeyCorp boosted their price target on shares of FMC from $108.00 to $119.00 and gave the company an overweight rating in a research report on Monday, July 13th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. FMC currently has an average rating of Buy and an average target price of $115.25.

Shares of FMC stock opened at $110.56 on Thursday. The firm has a market cap of $14.32 billion, a price-to-earnings ratio of 30.21, a P/E/G ratio of 1.63 and a beta of 1.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.17 and a current ratio of 1.60. FMC has a 52 week low of $56.77 and a 52 week high of $113.73. The firm’s 50-day simple moving average is $108.68 and its two-hundred day simple moving average is $96.28.

FMC (NYSE:FMC) last announced its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.66 by $0.06. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.21 billion. FMC had a net margin of 10.35% and a return on equity of 30.31%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.66 earnings per share. Analysts forecast that FMC will post 6.46 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $1.76 dividend on an annualized basis and a yield of 1.59%. FMC’s dividend payout ratio is presently 28.90%.

In other FMC news, CEO Mark Douglas sold 52,480 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $109.40, for a total transaction of $5,741,312.00. Following the completion of the sale, the chief executive officer now owns 40,928 shares of the company’s stock, valued at approximately $4,477,523.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.99% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. King Luther Capital Management Corp boosted its position in FMC by 0.3% during the 2nd quarter. King Luther Capital Management Corp now owns 2,860,137 shares of the basic materials company’s stock valued at $284,927,000 after buying an additional 7,377 shares during the period. Bank of New York Mellon Corp raised its holdings in FMC by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,608,835 shares of the basic materials company’s stock worth $259,894,000 after purchasing an additional 42,891 shares in the last quarter. Geode Capital Management LLC raised its holdings in FMC by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 2,031,344 shares of the basic materials company’s stock worth $165,619,000 after purchasing an additional 29,554 shares in the last quarter. Invesco Ltd. raised its holdings in FMC by 4.2% in the 1st quarter. Invesco Ltd. now owns 1,422,643 shares of the basic materials company’s stock worth $116,216,000 after purchasing an additional 57,165 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in FMC by 0.4% in the 1st quarter. Alliancebernstein L.P. now owns 997,104 shares of the basic materials company’s stock worth $81,453,000 after purchasing an additional 3,485 shares in the last quarter. 88.35% of the stock is owned by institutional investors and hedge funds.

FMC Company Profile

FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control.

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Analyst Recommendations for FMC (NYSE:FMC)

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